D2C men’s grooming startup Menhood’s company secretary and compliance officer, Ankita Soni, has resigned.
In͏͏ a͏͏ filing͏͏ with͏͏ NSE͏͏ Emerge,͏͏ the͏͏ D2C͏͏ startup͏͏ announced͏͏ that͏͏ Ankita͏͏ Soni’s͏͏ resignation͏͏ took͏͏ effect͏͏ on͏͏ October͏͏ 5.͏͏ Appointed͏͏ in͏͏ December͏͏ 2023,͏͏ Soni͏͏ was͏͏ responsible͏͏ for͏͏ overseeing͏͏ the͏͏ company’s͏͏ statutory͏͏ compliance,͏͏ among͏͏ other͏͏ duties.
Ankita Soni’s͏͏ Previous͏͏ Experience:
According͏͏ to͏͏ Menhood’s͏͏ draft͏͏ red͏͏ herring͏͏ prospectus͏͏ (DRHP),͏͏ Soni͏͏ previously͏͏ worked͏͏ as͏͏ the͏͏ company͏͏ secretary͏͏ at͏͏ consulting͏͏ firm͏͏ GACM͏͏ Technologies,͏͏ where͏͏ she͏͏ advised͏͏ senior͏͏ leadership͏͏ on͏͏ corporate͏͏ governance͏͏ and͏͏ regulatory͏͏ issues͏͏ before͏͏ joining͏͏ Menhood.
Menhood’s͏͏ Offerings:
Founded͏͏ in͏͏ 2019͏͏ by͏͏ Dushyant͏͏ Gandotra,͏͏ Divya͏͏ Gandotra,͏͏ and͏͏ Shivam͏͏ Bhateja,͏͏ Menhood͏͏ provides͏͏ a͏͏ variety͏͏ of͏͏ men’s͏͏ grooming͏͏ and͏͏ lifestyle͏͏ products,͏͏ such͏͏ as͏͏ trimmers,͏͏ intimate͏͏ perfumes,͏͏ and͏͏ moisturisers.
Continue͏͏ Exploring:͏͏ D2C grooming brand Menhood’s͏͏ IPO͏͏ to͏͏ open͏͏ on͏͏ July͏͏ 16,͏͏ price͏͏ band͏͏ set͏͏ at͏͏ INR͏͏ 71-75
Menhood͏͏ competes͏͏ with͏͏ other͏͏ D2C͏͏ brands͏͏ like͏͏ The͏͏ Man͏͏ Company,͏͏ Bombay͏͏ Shaving͏͏ Company,͏͏ and͏͏ Beardo.͏͏ The͏͏ company͏͏ went͏͏ public͏͏ in͏͏ July͏͏ this͏͏ year,͏͏ with͏͏ its͏͏ IPO͏͏ being͏͏ oversubscribed͏͏ by͏͏ 157.5͏͏ times.
This͏͏ comes͏͏ after͏͏ FMCG͏͏ major͏͏ Emami͏͏ acquired͏͏ D2C͏͏ men’s͏͏ grooming͏͏ brand͏͏ The͏͏ Man͏͏ Company͏͏ in͏͏ an͏͏ all-cash͏͏ deal.͏͏ Following͏͏ the͏͏ acquisition,͏͏ Helios͏͏ Lifestyle͏͏ Pvt͏͏ Ltd,͏͏ the͏͏ parent͏͏ company͏͏ of͏͏ The͏͏ Man͏͏ Company,͏͏ became͏͏ a͏͏ wholly͏͏ owned͏͏ subsidiary͏͏ of͏͏ Emami.
According͏͏ to͏͏ an͏͏ analysis,͏͏ the͏͏ Indian͏͏ beauty͏͏ and͏͏ personal͏͏ care͏͏ market͏͏ is͏͏ expected͏͏ to͏͏ reach͏͏ a͏͏ $28͏͏ billion͏͏ opportunity͏͏ by͏͏ 2030,͏͏ representing͏͏ 7%͏͏ of͏͏ the͏͏ total͏͏ e-commerce͏͏ market.
